3 School St · Hannawa Falls, NY 13676

$119,000

3 bd · 1.0 ba · 1,104 sqft · SingleFamily public records · 211 Days on market

Built 1934 9,296 sqft lot $108/sqft · 58% below area

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +23.5/30.0
• Appreciation +10.0/10.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

HANNAWA HOME WITH A WATERVIEW! Welcome to 3 School Street in Hannawa Falls, located in the Potsdam School District. This 3 bedroom, 1 bathroom home offers flexible living spaces, a lovely yard, and a beautiful waterview—ready for new owners to make it their own. As you enter, you’ll step into the main living room, which opens seamlessly into the dining room. To the left of dining room, you'll find a second living room featuring a pellet stove and abundant natural light. Off the dining room is the kitchen, complete with included appliances. Also off the dining room are two bedrooms and the full bathroom. One bedroom includes laundry hookups, giving you the option for first-floor laundry. The third bedroom is located off the main living room. There is also an additional laundry area in the basement, allowing you to choose the setup that works best for you. This home offers multiple heat sources, including a pellet stove, electric baseboard heat, and a furnace located in the basement. The basement also features a new sump pump and an artesian well. The attached one-car garage includes a propane heater and a woodstove, adding even more versatility. A shed provides extra storage. Enjoy relaxing or hosting BBQs in the lovely yard overlooking the water. With its convenient proximity to Postwood Park Beach, local shops, Jake’s on the Water, and the Village of Potsdam, this home offers both convenience and accessibility. Schedule your showing soon and see how you can make this house your home!

Key facts

• Waterview
• Natural light
• Pellet stove

Tags

• WATERVIEW
• FLEXIBLE LIVING SPACES
• PELLET STOVE
• NATURAL LIGHT
• FIRST-FLOOR LAUNDRY
• MULTIPLE HEAT SOURCES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $221 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#537 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: health & safety C-, schools F, amenities F.
• Potsdam Central School District (town): math 53% / reading 66% proficiency, ranked #258 of 590 in NY (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 118 active listings in the ZIP; 215 units permitted in St. Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($823 loan paydown + $12k appreciation (10.0% local appreciation)).
• St. Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 211 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 211 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.97%
• DSCR: 1.35
• GRM: 7.3

CMA / ARV

• ARV (median comp): $281,471
• List price: $119,000
• Delta: -57.72%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.1%
• Equity multiple: 3.37×
• Total profit: $78,946
• Equity at exit: $107,205

10-year hold

• IRR: 26.1%
• Equity multiple: 7.65×
• Total profit: $221,482
• Equity at exit: $231,191

Cash invested: $33,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 13676

• Home prices YoY: 17.7%
• Active inventory: 118
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,364 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$183 /mo · $2,196/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $221

Break-even live

Break-even rent $1,084

Max offer price $119,000

Occupancy floor 79%

Sensitivity live

Price	-10% $289	-5% $255	+0% $221	+5% $188	+10% $154
Rent	-10% $113	-5% $167	+0% $221	+5% $275	+10% $329
Rate	-1.0pp $281	-0.5pp $252	base $221	+0.5pp $190	+1.0pp $159

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $119,000 Active 211 DOM
2. 2026-06-21
   days on market $119,000 Active 210 DOM
3. 2026-06-18
   days on market $119,000 Active 208 DOM
4. 2026-06-17
   days on market $119,000 Active 207 DOM
5. 2026-06-16
   days on market $119,000 Active 206 DOM
6. 2026-06-15
   days on market $119,000 Active 205 DOM
7. 2026-06-13
   days on market $119,000 Active 203 DOM
8. 2026-06-12
   days on market $119,000 Active 202 DOM
9. 2026-06-09
   days on market $119,000 Active 199 DOM
10. 2026-06-08
    days on market $119,000 Active 198 DOM
11. 2026-06-07
    days on market $119,000 Active 197 DOM
12. 2026-06-07
    days on market $119,000 Active 196 DOM
13. 2026-06-04
    days on market $119,000 Active 193 DOM
14. 2026-06-02
    days on market $119,000 Active 192 DOM
15. 2026-06-01
    days on market $119,000 Active 191 DOM
16. 2026-05-31
    days on market $119,000 Active 190 DOM
17. 2025-11-21
    listed $119,000 Active 1527-char remark

    Show marketing remark (1527 chars)

    HANNAWA HOME WITH A WATERVIEW! Welcome to 3 School Street in Hannawa Falls, located in the Potsdam School District. This 3 bedroom, 1 bathroom home offers flexible living spaces, a lovely yard, and a beautiful waterview—ready for new owners to make it their own. As you enter, you’ll step into the main living room, which opens seamlessly into the dining room. To the left of dining room, you'll find a second living room featuring a pellet stove and abundant natural light. Off the dining room is the kitchen, complete with included appliances. Also off the dining room are two bedrooms and the full bathroom. One bedroom includes laundry hookups, giving you the option for first-floor laundry. The third bedroom is located off the main living room. There is also an additional laundry area in the basement, allowing you to choose the setup that works best for you. This home offers multiple heat sources, including a pellet stove, electric baseboard heat, and a furnace located in the basement. The basement also features a new sump pump and an artesian well. The attached one-car garage includes a propane heater and a woodstove, adding even more versatility. A shed provides extra storage. Enjoy relaxing or hosting BBQs in the lovely yard overlooking the water. With its convenient proximity to Postwood Park Beach, local shops, Jake’s on the Water, and the Village of Potsdam, this home offers both convenience and accessibility. Schedule your showing soon and see how you can make this house your home!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $2,196 · $183/mo
• Projected year-2 tax: $2,196 · $183/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,373
• − Mortgage interest: −$6,666
• − Property taxes: −$2,196
• − Insurance: −$595
• − Repairs & maintenance: −$1,310
• − Management: −$1,310
• − Depreciation: −$3,462
• Taxable income: $835
• Est. tax owed @ 24.0%: −$200
• After-tax cash flow: $2,455/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Potsdam Central School District
• NCES district ID: 3623670
• Math proficiency: 53% ▼ -2.00%
• Reading proficiency: 66% ▲ 12.00%
• Median HH income: $44,144
• Composite: 50.05/100
• National rank: #1915
• State rank: #258 of 590 in NY

Livability — Hannawa Falls

• Score: 68/100
• State rank: #537
• US rank: #9683

Category grades

Amenities F Commute F Cost of living A- Crime A Employment A+ Housing A+ Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hannawa Falls, NY
• City population: 159
• Population (ZIP): 13,408

Population outlook (St. Lawrence County) Hauer SSP2

• Today (2025): 110,027 people
• By 2030: 107,455 · -2.3%
• By 2040: 100,492 · -8.7%
• By 2050: 94,254 · -14.3%
• By 2075: 80,175 · -27.1%
• By 2100: 63,140 · -42.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Asian 3% Hispanic / Latino 2% Black 2%
• Common ancestry: Lithuanian 6% Romanian 4% Iranian 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · St. Lawrence

• 2024 margin: R (+18.0) · D 41.0% · R 59.0%
• 2008→2024 swing: -34.3pp toward R · 2008: 16.3pp · 2024: -18.0pp
• All cycles: 2024: R+18.0 2020: R+11.7 2016: R+10.8 2012: D+16.6 2008: D+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 48.01%
• Current HPI: 318.7704
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

1 event — show timeline

• 2025-11-21 Listed $119,000 SLCMLS

Property tax history

+0.4%/yr

Latest (2025): $2,196 · -2.3% YoY. Source: county tax records.